Bank Of Baku

Decline in oil production stops in Azerbaijan

Decline in oil production stops in Azerbaijan
# 01 February 2013 17:46 (UTC +04:00)

 

Talking about stabilizing the production volumes at "Azeri-Chirag-Guneshli" block of fields, Abdullayev said that as of January 2013, there are good results and January's figures correspond to the indices of the same month of 2012.

 

"That is, a decline in oil production volumes is not observed," Rovnag Abdullayev said.

 

President Ilham Aliyev blamed BP Plc for the decline in Azerbaijan’s oil production. The Head of the State said the unexpected decline in oil output was because of grave mistakes by BP, which operates the Azeri-Chirag- Guneshli, or ACG, and Shah Deniz fields.

Ilham Aliyev also accused BP of failing to deliver on a promise nearly a month ago to keep output at a stable level.

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